SC Company Laying Off All but 8 Workers Over Tariffs

In this Thursday, June 14, 2018, file photo, a Chinese national flag at Tiananmen Square flutters against the capital city tallest skyscraper China Zun Tower under construction at the Central Business... (AP Photo/Andy Wong, File)

(Newser)
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As the China-US tariff volley continues—China on Wednesday announced a 25% tariff on an additional $16 billion worth of US goods in retaliation for our similar move, reports CNBC—the consequences have become real for one South Carolina company. The State reports TV-maker Element Electronics is citing the tariffs as the reason it is essentially closing its doors: It intends to shut down its Winnsboro plant and lay off 126 of its 134 employees, it said in a letter to the state's Department of Employment and Workforce—though it does have a glimmer of hope.

The letter explains the tariffs hit television components from China that it relies on, and the layoffs will commence in October unless it can get its parts off the tariff list. CNN Money cites a tweet from the company that suggests optimism: It writes that as the "only USA assembler of televisions, we believe the inclusion of our parts on the list ... is accidental and resolvable." It's working to have the parts removed from the list. The State notes the layoffs would be a big blow for Fairfield County, which counted Element Electronics as its biggest employer, having recently suffered the loss of a Walmart and a textile mill.

So that means there isn't a US manufacturer of these parts? Sounds like an opportunity for a US based company to start making them and put those people back to work and also add the new workers that make those parts. Costs might go up but people shouldn't mind because they have jobs. Sounds like a win win situation that President Trump has created.

anamac

Aug 9, 2018 8:32 AM CDT

Good job donald!!! #MAGA !!!!!!

Jerman

Aug 9, 2018 8:19 AM CDT

We could of course, continue the trade imbalance and watch more jobs go overseas until such time as companies finally realize no one here has any money to buy anything anymore.